The pharmaceuticals company Faron Pharmaceuticals operates to a large extent with a virtual structure. How does this succeed with a company specialising in the prevention of acute traumas, metabolic syndrome related vasculopathies, inflammatory diseases, and cancer metastasis?

The Finnish company Faron Pharmaceuticals has been cooperating with other service companies since it started its operations. “Virtuality is increasing in the sector, but it’s not yet general worldwide,” says CEO Markku Jalkanen.

“With a small nucleus – or even one person – a person who has good network connections can coordinate an entire operation by acquiring services from international experts and specialists when necessary.”

Shorter development time

The virtual operating method, says Jalkanen, requires excellent interaction and networking, which have been created over the years with companies, universities and research institutes. The implementation of virtuality requires acquaintance with others and the bearing of responsibility.

“The weakest link is the weakest point in an entire project,” Jalkanen points out.

Faron Pharmaceutics utilises to optimal effect a global cooperation network that has been created over the years, thus avoiding unnecessary costs.

“In the future we shall be developing pharmaceuticals at less than a fraction of the average cost,” Jalkanen stresses.

“Virtuality keeps fixed costs at a minimum and allocates resources to the development of projects that have been under consideration. With virtuality, development times can be shortened, which is a quite surprising observation and is based on the small amount of red tape.”

>> www.faronpharmaceuticals.com

Virtualness is worthwhile for the development of pharmaceuticals because product development times are long and costs are high.